BENGALURU: Sri Lankan shares closed higher on Wednesday, ahead of the central bank’s monetary policy decision this week where it is likely to cut interest rates.
Sri Lanka’s central bank is expected to further loosen monetary policy on Thursday by a smaller degree than previously, as it looks to use the rapid easing in inflation as an opportunity to foster growth.
The CSE All Share index settled up 0.94% at 11,385.47 on Wednesday, aided by gains in consumer staples and financials stocks.
Distilleries Company of Sri Lanka Plc and LOLC Holdings Plc were the top gainers on the CSE All Share index, rising 8.3% and 3.8%, respectively.
Sri Lanka shares end lower as consumer staples and financials weigh
Trading volume on the CSE All Share index rose to 102 million shares from 81 million shares in the previous session.
The equity market’s turnover rose to 2.97 billion Sri Lankan rupees ($9.2 million) from 2.93 billion rupees in the previous session, according to exchange data.
Foreign investors were net sellers, offloading stocks worth 177.1 million rupees, while domestic investors were net buyers, purchasing shares worth 2.91 billion rupees, the data showed.
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